Year End Report 2018

2019-02-21

Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Year End Report for 2018.

Financial Highlights

Revenue for the 4th Quarter amounted to SEK 29.5 (30.0) m, and for the full year to 114.6 (117.7) m

Operating result for the quarter amounted to SEK -23.6 (-24.4) m, and to -127.4 (-64.2) m for the full year

Net result for the quarter amounted to SEK -23.8 (-24.4) m, and to -127.2 (-64.1) m for the full year

Cash flow for the quarter amounted to SEK -65.1 (128.4) m, and to -150.4 (114.3) m for the full year

Cash and cash equivalents at the end of the period amounted to SEK 91.0 (241.3) m.

Significant Events during the Reporting Period

In December 2018, it was announced that Biotest AG had exercised its option under the ongoing collaboration regarding the use of Albumod™.

Significant Events during the rest of the Year

A 100 patient multicenter Phase II study of ABY-035 in Germany, commenced in March 2018

A Phase I proof-of-principle study of ABY-039 in the UK, commenced in March 2018

The rights issue of shares resolved at the EGM on November 23 2017, completed in January 2018, was fully subscribed for with corresponding proceeds of SEK 199m

In September 2018, it was announced that that a major Nordic study (“Affibody-3”) will begin using Affibody’s PET imaging agent ABY-025. The study is a multicenter investigator led clinical Phase II/III study with [68Ga] ABY-025. In total, 120 women with breast cancer from 7-8 hospitals in Sweden, Denmark and Finland will be included in the study.

Significant Events after the close of the Reporting Period

In February 2019, the Phase 2 proof-of-concept study of ABY-035 for moderate-to-severe psoriasis completed enrollment of patients

An Extra General Meeting (EGM) is to be held on March 11, 2019 to initiate a process for a SEK 147 m rights issue.

Affibody is a clinical stage Swedish biotech company with a broad product pipeline focused on developing innovative next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

The company operates a focused experimental medicine model and currently has three clinical stage proprietary programs. The first two are therapeutic programs that targets psoriasis, and B-cell driven autoimmune diseases respectively. The third program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer.

In addition, to its portfolio of innovative drug projects the company offers the half-life extension technology, Albumod™, for outlicensing.